Daily Technical Analysis

Daily Technical Analysis
The main trend is down according to the daily swing chart. The main trend will change to up on a move through the last swing top at 1.1176. The next major downside target is the main bottom at 1.0879.

The minor trend is also down. A trade through the minor bottom at 1.0991 will reaffirm the downtrend.

The main range is 1.0879 to 1.1179. Its retracement zone at 1.1029 to 1.0994 is currently being tested. Aggressive counter-trend buyers could come in on a test of this zone because it represents value. An uptrending Gann angle passes through this zone at 1.1019, making it a valid downside target.